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they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the problem here is that frankly there is a fine and out of capital that can be used up their divided either in the private sector which creates businesses and jobs and federal revenue or given to the government which is just a bureaucracy ad creates nothing but burearatic management. if you look at the lt gop congress and the expenditures, about two and half trillion dollars and now the president's proposals are about 4 trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if we may
they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the...
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Dec 30, 2012
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. >> good sunday morning, time is nearly up before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon, in an exclusive interview, president obama sat down with me in the blue room of the white house. to discuss the way forward and his priorities for a second term. >> mr. president, welcome back to "meet the press." >> great to be here, thank you. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire econ
. >> good sunday morning, time is nearly up before we go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon, in an exclusive interview, president obama sat down with me in the blue room of the white house. to discuss the way forward and his priorities for a second term. >> mr. president, welcome back to "meet the press." >> great to be here,...
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if there's a fiscal cliff deal, you could see the markets rally. and on tuesday john boehner, the 113th congress is sworn in and john boehner is expected to be elected to his second term as house speaker by a vote in the house. we'll see if everyone plays nice in the sandbox and work together to solve the country's problems in 2013. if you're sitting down to breakfast, this bowl of cereal, that milk can get more expensive if a fiscal cliff deal is not reached. that gallon of milk might cost as much as $7. cnn's candy crowley spoke with secretary of agriculture tom vilsack. $7 milk? this is known as the dairy cliff, right? >> yes, it is. we've been so focused on other kinds of cliffs, but, in fact, because there is no farm bill, they revert back to some laws that were enacted in the 1940s. it would cause -- because milk won't be, if you will, propped up, it would cause milk prices too almost double, at least according to the agriculture secretary. they're working on a fix, something like that which hits consumers so hard. they'll notice that immedia
if there's a fiscal cliff deal, you could see the markets rally. and on tuesday john boehner, the 113th congress is sworn in and john boehner is expected to be elected to his second term as house speaker by a vote in the house. we'll see if everyone plays nice in the sandbox and work together to solve the country's problems in 2013. if you're sitting down to breakfast, this bowl of cereal, that milk can get more expensive if a fiscal cliff deal is not reached. that gallon of milk might cost as...
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Dec 29, 2012
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cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate
cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive...
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Dec 27, 2012
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what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee business days, as you say before, the actual deadline itself, that's disconcerting. but -- again, it is not surprising. i don't think it has any -- will peak the negotiations at all, frankly. not at all. >> what about the secretary's use of this phrase -- the country would otherwise default on its legal obligations. i think he purposefully use this phrase default to confuse the public and -- during the last debt ceiling debate we had the same confusion as if the u.s. government would not pay interest on its debts. have -- you know perfectly well will is ab
what does this mean for the fiscal cliff discussions? >> well, i don't think it really means a whole lot. i think it is -- sort of the white house's way, treasurer's way, of putting extra pressure on the people in the building behind us. by the way, none of them are there. i'm not sure that's really going to work, frankly. and -- i -- john, our colleague john harwood is exactly right. this is not a surprise. we knew this was coming. the question that it is, you know, three days -- thee...
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related to the fiscal cliff. as we've been reported, the senate won't tonight either. although they're talking and we expect them to come back tomorrow morning at 11:00. as we all know from past battles, today's fiscal cliff fight is, sadly, typical. in fact, this congress is on track to go down as the least productive congress since recordkeeping began. in the course of nearly two years, the 112th congress has passed 219 bills that have actually been signed into law by president obama. but a lot of these laws were insignificant, things like the names of post offices. and a slew of bills passed by the house had no chance of passing the senate or getting the president's signature, like repeated attempts to repeal the affordable care act. the influence of the tea party lawmakers have been a clear factor. >> the tea party, which is not even on the screen about a year ago at this time, is a very domineering force. >> one story will be with us, the rise of the tea party. >> regardless of what those elites think, the t
related to the fiscal cliff. as we've been reported, the senate won't tonight either. although they're talking and we expect them to come back tomorrow morning at 11:00. as we all know from past battles, today's fiscal cliff fight is, sadly, typical. in fact, this congress is on track to go down as the least productive congress since recordkeeping began. in the course of nearly two years, the 112th congress has passed 219 bills that have actually been signed into law by president obama. but a...
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Dec 26, 2012
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to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers
to avoid the fiscal cliff, but little progress has been made. >>> a chinese ratings agency is putting the u.s. on negative watch citing troubles with long-term debt issues. on a statement on its web site, global credit says each political party insists on the proposition favorable for its own interest. it expects u.s. debt to rise to 105% of gdp this year and warns the country will probably fall into recession in 2013 if there's no resolution to the fiscal cliff. last year, it cut u.s....
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cliff. we are hearing the president's planning to present a smaller offer. for the latest, we bring in peter alexander from the white house and mike viqueira from capitol hill. peter, let's talk about what's going on at the white house meeting. i hear senators are optimistic about a mini deal which, of course, will raise taxes on those above $400,000. expand the amt, cut some spending. what are you hearing? >> reporter: well, hearing a lot of different things right now. one of the items and ruled by rumor and then denials and frustrations, toure. we know that we saw senators mcconnell and reid arriving a short time ago. we didn't pelosi and boehner arrive yet but the vice president joe biden got here a short time ago, as well. there's other reporting from the hill right now about the potential that the president is going to return to what was basically his original outlined plan. perhaps a smaller plan but a plan where the threshold would be set closer to $250,000 as he initially had before
cliff. we are hearing the president's planning to present a smaller offer. for the latest, we bring in peter alexander from the white house and mike viqueira from capitol hill. peter, let's talk about what's going on at the white house meeting. i hear senators are optimistic about a mini deal which, of course, will raise taxes on those above $400,000. expand the amt, cut some spending. what are you hearing? >> reporter: well, hearing a lot of different things right now. one of the items...
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. >> in the meantime, you are looking live at house minority whip steny hoyer speaking about the fiscal cliff. he's saying that congress needs to get together for a compromise. we're going to monitor this situation and we'll let you know if he breaks any news. >>> in the meantime, 12 months ago, brian, you had a few predictions for this year so it is that time of year that we roll out that list and we do see how many of them came true. we're going to hold your feet to the fire, by the way. you're not getting away scott free on this one. >>> i can't wait. plus, a few retail surprises this season. which ones raked in the cash. which ones may have flopped? that is still ahead. >>> and also frequent flyers need to take stock of their status in the next couple of days. how to protect your purse for 2013 a little later on "street signs." stay right here on cnbc. >> announcer: the cnbc real time exchange market snapshot is sponsored by interactive brokers. >> announcer: interactive brokers, the professional's gate way to the world's markets. andm two things -- cook what you love, and save your
. >> in the meantime, you are looking live at house minority whip steny hoyer speaking about the fiscal cliff. he's saying that congress needs to get together for a compromise. we're going to monitor this situation and we'll let you know if he breaks any news. >>> in the meantime, 12 months ago, brian, you had a few predictions for this year so it is that time of year that we roll out that list and we do see how many of them came true. we're going to hold your feet to the fire,...
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. >> two days left until we all go over the fiscal cliff which would mean everyone's taxes will go up and sharp spending cuts will go effect that could drive our economy back into recession. to abc news white house correspondent jonathan karl filling in today for george stephanopoulos as host of abc's "this week." >> hey, jon, good morning. i know today and tomorrow obviously hugely important. can you sort of walk us through the potential order of operations? what could we see play out today and tomorrow? >> well, it is right down to the wire, dan. what's happening right now is harry reid and mitch mcconnell, the top democrat and republican in the senate are still negotiating their staffs at this hour. they are supposed to be working until about 3:00 this afternoon when the plan would be presented to both caucuses. as we understand what they are talking about is the bare minimum. basically the senate negotiating to extend those tax cuts for everybody making under $250,000 a year and do extend unemployment benefits also they're talking about trying to do something to stop the automatic
. >> two days left until we all go over the fiscal cliff which would mean everyone's taxes will go up and sharp spending cuts will go effect that could drive our economy back into recession. to abc news white house correspondent jonathan karl filling in today for george stephanopoulos as host of abc's "this week." >> hey, jon, good morning. i know today and tomorrow obviously hugely important. can you sort of walk us through the potential order of operations? what could we...
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cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending cuts we've all heard about that are set for january 1st, this temporary deal would delay them for another six months. few are optimistic this new plan, if we do go over the clifr, would work out. so what would half if we go over the cliff? the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right
cliff. that's not all, holiday spending also hit its lowest rate since the 2008 recession, which retailers are blaming on the uncertainty in washington. so where do we go from here? well, since the house failed to get a vote on the tax package last week, all eyes are on the senate. a temporary deal that would basically extend all the tax cuts for those making under a quarter million. the deal would also rescue long-term unemployment benefits and instead of addressing those automatic spending...
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Dec 28, 2012
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the truth is the house is coming back because of the fiscal cliff. they're coming back in case there is a potential deal, in case there is something to debate and discuss. now, there are other things they can do if there is no fiscal cliff deal. namely hurricane sandy supplemental might need work, also work on the farm bill, also overdue. there are other things, plenty of business to work open, but the truth is they're coming back because of the fiscal cliff, in case there might be a deal, and also to show that they're working until the last minute. >> lisa, i love you, but you just depress me. >> oh, no! >> i know. >> have faith. have faith. honestly, it is not -- these guys are best at the last minute. i think we're far from the last minute, though it feels that way to a lot of people. especially the unemployed losing their benefits tomorrow. it is a serious matter. they're best at the last minute and they're not there yet. >> we shall see. >> try to smile. >> i'll try. i'm sure many americans are trying as well. >>> we talked about the effect of h
the truth is the house is coming back because of the fiscal cliff. they're coming back in case there is a potential deal, in case there is something to debate and discuss. now, there are other things they can do if there is no fiscal cliff deal. namely hurricane sandy supplemental might need work, also work on the farm bill, also overdue. there are other things, plenty of business to work open, but the truth is they're coming back because of the fiscal cliff, in case there might be a deal, and...
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Dec 27, 2012
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he's blaming the republican john boehner for the stall in talks on fiscal cliff. dana bash is our congressional correspondent. it just seems like this is the blame game. the house speaker would blame the president, the senate majority leader would blame the house speaker. who is to blame in all this? >> everybody is, carol. it's the blame game. i'm a little surprised at how personal harry reid just got in going after the speaker. it is true that things have clearly broken down, that goes without saying, and that the democrats were not happy that maybe a week and a half ago the speaker pulled out of talks with the president after they had reached a pretty good amount of progress. but the fact that he called the speaker a dictator and in the next breath said he's worried about his job, it's a little contradictory, but very personal. let me give you a little bit of a reality check. that is it is true that the house is not in session. they will come in quickly at 2:00 in a pro formal way and house republican leaders have told members they will give them 48-hours notic
he's blaming the republican john boehner for the stall in talks on fiscal cliff. dana bash is our congressional correspondent. it just seems like this is the blame game. the house speaker would blame the president, the senate majority leader would blame the house speaker. who is to blame in all this? >> everybody is, carol. it's the blame game. i'm a little surprised at how personal harry reid just got in going after the speaker. it is true that things have clearly broken down, that goes...
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later he'll head back to the white house to work on a deal to avoid the fiscal cliff. peter doocy live in washington with more on the last-minute deal making. hey, peter. >> hey. president obama is still going to be able to squeeze in one more day of vacation in hawaii before he leaves his wife and daughters hyped and boards air force one for dc at about 10:00 p.m. in honolulu, 3:00 a.m. eastern time. that should get him back to the white house sometime tomorrow, thursday morning, on the back end of a break he says he hopes will get lawmakers on the same page. >> everybody can co- opt, drink egg nog, have christmas cookies, sing some christmas carols, enjoy the company of loved ones and then i'd ask every member of congress, while they're back home, to think about that. think about the obligations we have to the people who sent us here. >> speaker of the house, john boehner, is expected to come back to washington at any time as well. before he went back to ohio and president obama went to hawaii, they were believed to be about $400 billion apart in spending cuts and ta
later he'll head back to the white house to work on a deal to avoid the fiscal cliff. peter doocy live in washington with more on the last-minute deal making. hey, peter. >> hey. president obama is still going to be able to squeeze in one more day of vacation in hawaii before he leaves his wife and daughters hyped and boards air force one for dc at about 10:00 p.m. in honolulu, 3:00 a.m. eastern time. that should get him back to the white house sometime tomorrow, thursday morning, on the...
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with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to cobble together when the senate reconvenes on the 27th and that's really the last-ditch effort. it's seen as the senate trying to do something that can also pass the house, so this is exactly what you would expect. the real problem though is as of this morning, just a week out from when the fiscal cliff is expected to hit. there's no discussions between congressional democrats and congressional republicans even on the staff level. this is what democratic and republican sources are telling me, and overall just to remind people, instead of this being -- here's what we expect. instead of this being some
with the house hopelessly deadlocked any chance of averting the fiscal cliff will start in the senate and there's a bit of news on that front. our white house correspondent brianna keilar joins us live from honolulu, hawaii. so a slight bit of news. do tell. >> reporter: i hesitate to even say it's a slight bit of news because it's sort of exactly what we would expect, to be honest. the white house is talking about senate democrats about what senate majority leader harry reid will have to...
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the house already passed legislation to avoid the entire fiscal cliff. the senate democrats have not. now, the final point here, and this is going to -- but believe it or not, we're also talking about milk. it's not directly part of the fiscal cliff, but because congress didn't pass a farm bill this year, you have these bizarre 1949 price supports that would go back into effect unless congress can fix that. if they don't, the price you pay at the grocery store is going to skyrocket. maybe several dollars a gallon. so because of that, congress wants to make a milk fix part of any part of fiscal cliff fix if they can do one or the other before the year ends. back to you guys. >> juliet: listening to them, what senator reid says about boehner and boehner's response. they sound like they're real housewives of dc or something. >> eric: they're nowhere near a deal. i think i have this figured out. president obama came back from hits vacation saying let's see if we can get something together, knowing very well that they can't. the house and senate are so far ap
the house already passed legislation to avoid the entire fiscal cliff. the senate democrats have not. now, the final point here, and this is going to -- but believe it or not, we're also talking about milk. it's not directly part of the fiscal cliff, but because congress didn't pass a farm bill this year, you have these bizarre 1949 price supports that would go back into effect unless congress can fix that. if they don't, the price you pay at the grocery store is going to skyrocket. maybe...
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Dec 27, 2012
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. >>> president obama back in washington today to tackle the so-called fiscal cliff. he landed about 30 minutes ago. you see him getting off of the air force one. the president shut his vacation short do deal with this economic crisis. according to a tweet from a white house spokesman, the president spoke with all four congressional leaders before leaving hawaii for washington, and the senate is reconvening today. now the automatic spending cuts and the tax increases that make up the fiscal cliff, they're set to take effect in just five days. much more on the fiscal cliff crisis, the effort to reach some kind of agreement later this hour. we're going go live to capitol hill for the latest as the senate returns to work. that is coming up in about 20 minutes. >>> and president obama's going to have another cabinet position to fill for the new year. we learned a short time ago apa lisa jackson is stepping down after the president's state of the union speech in january. jackson starting with the agency as a staff level scientist back in 1987. during her tenure as administ
. >>> president obama back in washington today to tackle the so-called fiscal cliff. he landed about 30 minutes ago. you see him getting off of the air force one. the president shut his vacation short do deal with this economic crisis. according to a tweet from a white house spokesman, the president spoke with all four congressional leaders before leaving hawaii for washington, and the senate is reconvening today. now the automatic spending cuts and the tax increases that make up the...
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a high-stakes meeting later on today at the white house, on avoiding the fiscal cliff. president obama meets with four congressional leaders, boehner, pelosi, reid, and o'connell. the rhetoric getting more angry and disconnected in final moments. i want to bring in michigan senator debbie stabenow now. thank you so much for being with us. >> sure. >> it really is disconnected. everywhere i go, people ask me a simple question. why can't they get this deal done? harry reid got up and said we're just procedurally not going to get this done in time, it caused people to say why not? this is the most anticipated problem we've ever had. it just -- regular folks folks look at washington and say what is going on. >> ali, i'm here and saying what is going on. there are basically three pieces to solving the deficit, right? one is spending and we have agrowed to $1.6 trillion in spending cuts in the last two years and the other is spending cuts. we put forth spending cuts of over $700 billion. not cutting care to seniors, but cutting overpayments to insurance companies. the burden
a high-stakes meeting later on today at the white house, on avoiding the fiscal cliff. president obama meets with four congressional leaders, boehner, pelosi, reid, and o'connell. the rhetoric getting more angry and disconnected in final moments. i want to bring in michigan senator debbie stabenow now. thank you so much for being with us. >> sure. >> it really is disconnected. everywhere i go, people ask me a simple question. why can't they get this deal done? harry reid got up and...
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the fiscal cliff is falling into the hands of the senate after the house walks away with no deal. can the senate do any better? connecticut senator richard blumenthal is with us at the top of the hour plus the airline pilot caught on tape ripping his bosses as' poll jizs to passengers. you're going to want to hear this and probably applaud. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill each morning. 24 hours. zero heartburn. satisfaction guaranteed or your money back. satisfaction guaranteed meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to t
the fiscal cliff is falling into the hands of the senate after the house walks away with no deal. can the senate do any better? connecticut senator richard blumenthal is with us at the top of the hour plus the airline pilot caught on tape ripping his bosses as' poll jizs to passengers. you're going to want to hear this and probably applaud. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make...
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Dec 31, 2012
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>> seconds ago, confirmation that, in fact, the house will not take up any fiscal cliff vote tonight even if the senate manages to get a piece of legislation to the floor and gets over the hurdles we have talked about. if there are the votes to get it on the senate side question confirm, right now, from our people on capitol hill, including chad, who you just talked to, the house will not take up any fiscal cliff vote even if the senate does pass something tonight as you look at the senator from missouri speaking on the senate floor. that means the country is going over the fiscal cliff technically. as we have known congress to do before, you can have maneuvers by which they rewind the clock and if they go into tomorrow and they actually pass a piece of legislation they can rewind it to the point they need to be. some of the stipulations about the sequester and those are the across-the-board cuts do not kick in, until january 2nd so those are some of the things people are talking about. however, the biggest thing that everyone is talking about, are there really the votes to get this
>> seconds ago, confirmation that, in fact, the house will not take up any fiscal cliff vote tonight even if the senate manages to get a piece of legislation to the floor and gets over the hurdles we have talked about. if there are the votes to get it on the senate side question confirm, right now, from our people on capitol hill, including chad, who you just talked to, the house will not take up any fiscal cliff vote even if the senate does pass something tonight as you look at the...
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deal to avoid the so-called fiscal cliff, right? the president and the vice president, they're going to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor aft
deal to avoid the so-called fiscal cliff, right? the president and the vice president, they're going to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases...
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to tackle the fiscal cliff, returning tomorrow just as the house and senate are expected to reconvene. with the way things work in washington, can anything be done before year's end? white house correspondent brianna keilar following this. what is the latest? >> reporter: it's honestly very unclear, drew, if something is going to happen. obviously we will see some actions to try to avert the fiscal cliff. president obama cutting his vacation in hawaii almost two weeks short to head back as the senate and the house reconvene and we are looking to the senate, where senate majority leader harry reid will be trying to put together a bill that can get some republican support in the senate but also and more importantly some republican support in the house, where obviously we saw negotiations fall apart with president obama last week, so we're waiting for this proposal to see kind of what shape it takes. the white house wants those bush era tax cuts on the first quarter million dollars of earnings to be preserved, that's what the white house has been pushing. it's unclear if that is going to
to tackle the fiscal cliff, returning tomorrow just as the house and senate are expected to reconvene. with the way things work in washington, can anything be done before year's end? white house correspondent brianna keilar following this. what is the latest? >> reporter: it's honestly very unclear, drew, if something is going to happen. obviously we will see some actions to try to avert the fiscal cliff. president obama cutting his vacation in hawaii almost two weeks short to head back...
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on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so to speak? >> a good question. i have been in touch wit
on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series...
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us from going over the fiscal cliff. but can they do it in time? >>> and family feud. a college student fed up with what she calls her meddling, overbearing parents goes to court to get them to back off. now, she has a restraining order. today, saturday, december 29, order. today, saturday, december 29, 2012. captions paid for by nbc-universal television >>> and welcome to "today" on this saturday morning. i'm erica hill. >> i'm cain for lester holt. just when you thought it was safe to go out, another storm is hitting the east coast. >> there won't be as bad as the storm that spun off tornadoes and dumped heavy snow across the northeast and the east this week. it could certainly impact holiday travel. we'll have the latest coming up in a moment. >>> also ahead, in the wake of the sandy hook school tragedy, a new plan from the controversial sheriff in arizona. he wants armed volunteers to patrol the schools there. we'll get into that debate. >>> then, we'll share with you a romance story 20 years in the making. it began
us from going over the fiscal cliff. but can they do it in time? >>> and family feud. a college student fed up with what she calls her meddling, overbearing parents goes to court to get them to back off. now, she has a restraining order. today, saturday, december 29, order. today, saturday, december 29, 2012. captions paid for by nbc-universal television >>> and welcome to "today" on this saturday morning. i'm erica hill. >> i'm cain for lester holt. just when...
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. >> there's the looming fiscal cliff and session of the senate set for tomorrow. the house has nothing on its schedule for the week but members have been told they could be called back with 48 hours notice. meantime, president obama going to fly back from vacation in hawaii today. john joins us in washington. john, is this trip by the president more than just window dressing? is there a chance he's here to actually do something? >> first of all, merry christmas to everybody and happy holidays. i think this is not window dressing. there is a chance they will negotiate a deal, most like l l mini deal that will temporarily resolve the issue. there is a chance something will get done and the chairman of the budget committee is holding out hope to do that. he's come back because the president doesn't want to be out in hawaii vacationing while members of congress decide up or down on a deal. >> it will be left in the -- he left in the first place knowing he would have to come back. not like he didn't know this problem existed on sunday? >> right. but he wanted to celebr
. >> there's the looming fiscal cliff and session of the senate set for tomorrow. the house has nothing on its schedule for the week but members have been told they could be called back with 48 hours notice. meantime, president obama going to fly back from vacation in hawaii today. john joins us in washington. john, is this trip by the president more than just window dressing? is there a chance he's here to actually do something? >> first of all, merry christmas to everybody and...
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. >> all eyes on the house of representatives as we await some action on the fiscal cliff deal. we are live with the late-breaking developments as we wait to hear from congressional democrats. and the health crisis facing secretary of state hillary clinton. new details about her condition and how doctors are treating the blood clot that was found near her brain. and a. a young mom facing jail time on child abuse charges, ordered not to get pregnant for the next 13 years. is that legal? our panel weighs in. and a very rare new year's day session for the house. just hours after the senate passed its version of the fiscal cliff bill. >> house democratic leaders speaking now. let's listen in on what they have to say. >> gave us a thoughtful and detailed explanation of what's gone on and how it was that he and the president working with the democratic and republican leaders in both houses were able to come together on this compromise. we first want to say thank you to the vice president for being so gracious. quite honestly so frank in his conversation with us in explaining as much a
. >> all eyes on the house of representatives as we await some action on the fiscal cliff deal. we are live with the late-breaking developments as we wait to hear from congressional democrats. and the health crisis facing secretary of state hillary clinton. new details about her condition and how doctors are treating the blood clot that was found near her brain. and a. a young mom facing jail time on child abuse charges, ordered not to get pregnant for the next 13 years. is that legal?...
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we're less than 48 hours away from the fiscal cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet: oh, how about that car? >> that's not something you see every day. >> no. >> "fox & friends" begins right now. ♪ >> hey, everybody. >> juliet: hi, everybody. >> dave: good sunday morning, juliet huddy in for ali. how are you doing, my friend. >> clayton: dave usually gets the coffee. and no coffee around this place. >> dave: i apologize. >> clayton: dave overslept and dropped the ball. >> dave: it happened with my iphone. i woke up an hour too late to my wife shaking me. >> juliet: i don't know what it is about this morning. i'm like in lala land. >> clayton: there is no sn
we're less than 48 hours away from the fiscal cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet:...
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it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and that would mean democratic and republican support. right now, all eyes on the senate because they will reconvene on the 27th that is thursday. and senate majority leader harry reid, it is up to him really to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making mo
it is called the fiscal cliff. for that reason. a plan to stop it all from happening still eludes washington. so congress has broken camp for the holidays, the president has gone to hawaii on vacation. white house correspondent brianna keilar tells us no one is really talking, anyone, to get this solved. at least not here at christmas. >> reporter: senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously...
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cliff public. >> we had a good meeting at the white house. we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the expwrort leader can make to his conference. >> at yesterday's white house meeting, president obama did not offer negotiators anything new. he just tried to sell them on the same plan he outlined last friday, being called plan c. since the president's plan a and speaker boehner's plan b both failed to gain traction. plan c would extend middle class tax rates and we're told the senate wants to tweak exactly who counts as being in the middle class. maybe even raising the income threshold and the white house is apparently willing to go as high as 4 or $500,000 a year. plan c would expand unemployment benefits for the 2 million people set to lose them at the end of this year. it would include a small amount of spending cuts but would not touch entitlements like medicare and not deal with
cliff public. >> we had a good meeting at the white house. we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the expwrort leader can make to his conference. >> at yesterday's white house meeting, president obama did not offer negotiators anything new. he just tried to sell them on the same plan he outlined last friday, being called...
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houses and less about the fiscal cliff. >> and those are simple things to do but they take time. but it's good advice. >>> okay, we hear a lot about the amt and how congress may put a patch on that. can you explain it in a simple way so everyone can understand? >> back in '69 they came out with something called "minimum tax." and in '82, the alternative minimum tax and this was a way to make sure the ch wealthy pay their fair share. this is how to level the playing field a little bit. this simply says now it's around $74,500. if -- it will go down to about $45,000 if the fiscal cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation has gone into place, things have not adjust
houses and less about the fiscal cliff. >> and those are simple things to do but they take time. but it's good advice. >>> okay, we hear a lot about the amt and how congress may put a patch on that. can you explain it in a simple way so everyone can understand? >> back in '69 they came out with something called "minimum tax." and in '82, the alternative minimum tax and this was a way to make sure the ch wealthy pay their fair share. this is how to level the...
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shy of the deadline the senate passed a deal to avoid the fiscal cliff. >> that goes to the house for a vote. doug mcelway is live with what it all means. you have been up all night so have i, what do we have? >> little more than 2 hours after the deadline passed they passed a stopgap fiscal cliff bill that spares the vast majority of americans tax increases. it passed with broad bipartisan support the final vote was 89 yai's 8 nay's. they pent went to the floor to describe a flawed bill one of the best they could craft given the different priorities over the two parties for the last couple years. >> shouldn't be a model of how we do things but i think we can say we have done some good for the country. we have done some good for the country. we have taken care of the revenue side of this debate. >>> working through the night we have reached a deal with sen more mcconnell. i have said all along the most important priority was to pa protect the middle class families. >> it raises tax rates on incomes over 400,000 for individuals 450,000 for couples. it blocks the spending cuts for two m
shy of the deadline the senate passed a deal to avoid the fiscal cliff. >> that goes to the house for a vote. doug mcelway is live with what it all means. you have been up all night so have i, what do we have? >> little more than 2 hours after the deadline passed they passed a stopgap fiscal cliff bill that spares the vast majority of americans tax increases. it passed with broad bipartisan support the final vote was 89 yai's 8 nay's. they pent went to the floor to describe a flawed...
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already going over the fiscal cliff because the house is adjourning. tom foreman joining us with more details. what are you seeing? >> even if you don't care about politics, you don't care about the president, the parties, congress, anything else, you should be watching this number back here right now. because if this gets to zero without a deal, every taxpayer in america is going to be affected. or at least we're going to be one giant step closer to them being affected. because taxes will go up for everyone. by how much? let's look at some examples. let's say you make $50,000 a year. i'm talking about for a couple. for a family. it's a little bit different with individuals. still pretty close. if you make $50,000 a year, your taxes are going up by $2,000. next year and either year after that. unless this thing is fixed somehow. that's a whopping amount of money for people making that little. and that's what's in place if it goes that direction. let's say you make $75,000 a year. that's a pretty good bit more. if you make $75,000 a year, you're going t
already going over the fiscal cliff because the house is adjourning. tom foreman joining us with more details. what are you seeing? >> even if you don't care about politics, you don't care about the president, the parties, congress, anything else, you should be watching this number back here right now. because if this gets to zero without a deal, every taxpayer in america is going to be affected. or at least we're going to be one giant step closer to them being affected. because taxes...
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it says in part, the house has acted on two bills which collectively would avert the entire fiscal cliff if enacted. those bills await action by the senate. if the senate will not approve, and send them to the president to be signed into law in their current form, they must be amended and returned to the house. the senate first must act. now, the house leader john boehner says he will give house members 48 hours before he calls them back. that means the earliest they'll be back is on saturday. so are they just passing the buck to the senate? >> i think that's what's happening in both chambers right now. you saw a return statement from senate majority leader harry reid's spokesman yesterday talking about the incompetence of the house. these two sides are pointing fingers at each other. you have a situation now where these guys are completely confident or at least confident enough that their strategies are the right ones for them that they're not moving off the ball at all. and without any sort of movement, that's why you hear so much pessimism. >> i think part of it is they're afraid of s
it says in part, the house has acted on two bills which collectively would avert the entire fiscal cliff if enacted. those bills await action by the senate. if the senate will not approve, and send them to the president to be signed into law in their current form, they must be amended and returned to the house. the senate first must act. now, the house leader john boehner says he will give house members 48 hours before he calls them back. that means the earliest they'll be back is on saturday....
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the house has already passed legislation to avoid the entire fiscal cliff. senate democrats have not. speaker boehner is in his home state of ohio today. the house gop leadershipship put out a statement yesterday saying the house has passed legislation extending existing tax cuts and putting -- delaying putting off some spending cuts and replacing them with other spending cuts, and they're urging the senate to do the same. jon? jon: molly henneberg there at the white house where we are getting down to the wire. thank you. for more on the efforts to keep the economy from heading over the cliff and the likelihood of reaching some kind of a deal in time, let's talk with susan -- [inaudible] chief congressional correspondent for the washington examiner. what are the chances here, susan? >> hi, jon. i think at this point we're just simply running out of time. we have only got a few days left. they're so far apart on what an agreement would look like. even if they weren't going to put together a comprehensive deal which everybody agrees there's simply not enough t
the house has already passed legislation to avoid the entire fiscal cliff. senate democrats have not. speaker boehner is in his home state of ohio today. the house gop leadershipship put out a statement yesterday saying the house has passed legislation extending existing tax cuts and putting -- delaying putting off some spending cuts and replacing them with other spending cuts, and they're urging the senate to do the same. jon? jon: molly henneberg there at the white house where we are getting...
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"special report" from washington with all the fiscal cliff latest starts at 6:00. now back to "the five." ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax. >> what? that is a hoax? it's not real? >> oh, man. i'm really going to upset you now. saskatchewan. >> that's sasquatch. >> that's why they only ate grass. >> the eyes were here -- >> my dad said pay your bets and pay them on time. >> give us a profile shot. >> the other segment was my other half. >> puerto rican and irish. >> yes, thank you. >> good combo, right? >> there must be food safety standard. >> that wasn't a food cart you bought it from. >> what was it? >> age makes you more full of wisdom when you were a jerk most of your life. >> look at bob. >> that was mean. >> that was a joke, bob. >> could you manual bob getting an award for his
"special report" from washington with all the fiscal cliff latest starts at 6:00. now back to "the five." ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax....
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i'm glad you said pay the bills because it will have women out there, if we go over the fiscal cliff if we go orve the cliff, find a sugar daddy to help you. listen to this. >> instead of feeling powerless, attractive women are improving their situation by dating successful men. seeking arrangement.com over 1 million women discovered beauty is an ascend to transcend any fiscal cliff. on seeking arrangements the average man is 39, college educated and spend over $3,000 pampering the woman he is dating. why date regular guys when it's more fun and rewarding to be with generous men instead? >> bob: where is the sugar momma. >> andrea: i love the line if you feel powerless when you find yourself a sugar daddy. are you offended by this? >> andrea: are they lying? 1 million people out there? don't give you my ail usa name? just kidding. i have never been on the site but it's crazy. shows the state of affairs that we are in at this point. >> bob: this is fascinating. but i will let this go back. the debt ceiling in fact does not vote on as they point out revenue comes in. treasury can do is
i'm glad you said pay the bills because it will have women out there, if we go over the fiscal cliff if we go orve the cliff, find a sugar daddy to help you. listen to this. >> instead of feeling powerless, attractive women are improving their situation by dating successful men. seeking arrangement.com over 1 million women discovered beauty is an ascend to transcend any fiscal cliff. on seeking arrangements the average man is 39, college educated and spend over $3,000 pampering the woman...
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cliff passed in the senate just hours earlier. under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter: opponents of the deal said it was done in haste. >> senator mitch mcconnell said this shouldn't be the model and the senate proceed like a bull in a china closet anyway. >> reporter: if the deal is passed in the house, the president is expected to sign this, killing the tax hikes. i'm elizabeth corey done reporting. >> the senate bill's lack of spending cuts is a concern. house majority leader eric cantor said this is not over yet. >>> the new year was also the deadline to apply for the state's homestead tax credit. december 31st was the deadline this get the application i
cliff passed in the senate just hours earlier. under terms of the legislation taxes on the middle class will not go up. individuals earning $400,000 a year or more and households earning $450,000 a year or more will see the levels return to clinton are a taxes. >> i think that we've made gigantic prog gressments i hope that we can have a bipartisan agreement as we go forward. >> vice-president joe biden -- >> we are losing an opportunity for reform. >> reporter:...
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is officially going over the fiscal cliff. the senate at this hour has not moved the bill to the floor. until that happens, the house won't act. has signaled there will be no miscall cliff action tonight. tonight on the last "special report" of 2012, although president obama says the deal is in sight, what does it look like and will it pass either chamber? we will cover the negotiations from every angle and the the f fall-out. secretary clinton has been hospitalized because of a blood clot between her brain and skull but they are confident she will make full recovery. there is another taming report on security failures. send this back to new york and the colleagues with "the five." ♪ ♪ ♪ ♪ >> juan: getting redty to party. the last segment we took a look at the serious moments on "the five" this year. now let's get to the good stuff. roll the tape. ♪ notice >> are we non- >> bob. >> sorry. ♪ ♪ notice ♪ ♪ >> hostess brand maker of twinkies. [ laughter ] >> lockness monster was a hoax. >> what? that is a hoax? i
is officially going over the fiscal cliff. the senate at this hour has not moved the bill to the floor. until that happens, the house won't act. has signaled there will be no miscall cliff action tonight. tonight on the last "special report" of 2012, although president obama says the deal is in sight, what does it look like and will it pass either chamber? we will cover the negotiations from every angle and the the f fall-out. secretary clinton has been hospitalized because of a blood...
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trying to bring both sides together at the white house today to try to reach a deal on the fiscal cliff. in the meantime, harry reid refers to john boehner's leadership as a dictatorship. not helpful. >>> but first, to your top stories this morning -- retired general norman schwarzkopf died thursday at his home in tampa, florida, he's credited with devising the plan that drove saddam hussein's forces out of kuwait in 1991. known as stormin' norman for his strong personality. >>> the general said that he did agree with president george h.w. bush's decision not to follow saddam's decision into baghdad. >> ladies and gentlemen, when we here, we were 150 miles away from baghdad and there's nobody between us and bagsd. if our intention to take iraq, to destroy the country, if it had been our intention to overrun the country, we could have done it unopposed from this position at that time. >> schwarzkopf was honored for his service with the medal of freedom. queen elizabeth even awarded him with a knight hood. >>> former president george h.w. bush praised his leadership yesterday. general sch
trying to bring both sides together at the white house today to try to reach a deal on the fiscal cliff. in the meantime, harry reid refers to john boehner's leadership as a dictatorship. not helpful. >>> but first, to your top stories this morning -- retired general norman schwarzkopf died thursday at his home in tampa, florida, he's credited with devising the plan that drove saddam hussein's forces out of kuwait in 1991. known as stormin' norman for his strong personality....
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jimmy, let's start with the fiscal cliff. >> fiscal cliff. >> we're hearing about a strange marriage between minority leader mitch mcconnell and the vice president. why is the senate's top republican having to go to the white house for help with democrats? >> well, i mean, they have been running around saying we want the president to lead, we need the president to show leadership. john mccain just went to the show and said the president needs to show leadership. does he think the vice president's office somehow got moved away from the executive branch? i'm pretty sure the president via his vice president is leading. if that's the case, it sounds to me like they don't like what he's leading with. >> you said via. he hasn't built the relationships with members of his own party or the other party. so, yes, it makes sense that vice president biden is brought in because he still has relationships with people on the hill. >> but, susan, another issue here, and that is mcconnell having to go to biden because he's learned he can't depend on boehner to help him. >> well, i think -- >> no? stu
jimmy, let's start with the fiscal cliff. >> fiscal cliff. >> we're hearing about a strange marriage between minority leader mitch mcconnell and the vice president. why is the senate's top republican having to go to the white house for help with democrats? >> well, i mean, they have been running around saying we want the president to lead, we need the president to show leadership. john mccain just went to the show and said the president needs to show leadership. does he think...
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cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a number of procedural maneuvers tonight to pave the way for quick votes over the next few days. they are not actively involved in the negotiations but if these two are to get a deal, vice president and senate minority leader the house could do a quick vote. >> two other things, first, if they don't do a deal, what can the average american, expect as far as tax increases? >> the average american could and not up and down the income sale. bush tax cuts created lower tax brackets for lower income americans, so up and down you would see specific tax increases not just on wealthier americans. >> and this doesn't have
cliff. >> does the minority leader and the senate, do they concur with the house of representatives. because it's eventually going to have to go through the house? >> absolutely. they would remaining in contact. just to make sure that the house would be agreeable to whatever the senate minority leader put out. democrats would have to be apprised of that as well but any agreement is probably going to need democrats in the house of representatives. the house is also working on a...
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Dec 31, 2012
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all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich may have to rethink the strategy based on a ruling by a french court. senior foreign affairs correspondent greg palkot has that story. >> proponents of the high taxes in france took a bit of a hit over the weekend. >> the french constitutional counci
all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition....
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Dec 24, 2012
12/12
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, will let us go over this so-called fiscal cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house, which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor, observer, was quoted as saying if we were in a parliamentary system, what happened to speaker boehner would have been viewed as a vote of no confidence. do you think speaker boehner ought to step aside and let somebody else try to get this done? >> speaker boehner will be the speaker next year, without any question. the onus right now is on senator reid and the president to come up with a solution, make it a piece of legislation, pass it through the senate, present it to the house, and let's get back to the bargaining table. the american people deserve for both houses to do something and ask the president to sign it. >> schieffer:
, will let us go over this so-called fiscal cliff? >> that's a really good question. it's one of the reasons i'm pretty excited about the fact we already acted. we acted several months ago to extend the tax cuts for all americans. we don't have to go over the cliff. there is a piece of legislation that has passed house, which is good-- >> schieffer: well, craig shirley, who is a republican operative tauthor, observer, was quoted as saying if we were in a parliamentary system, what...
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Dec 28, 2012
12/12
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to come to agreement on the fiscal cliff but neither side is optimistic that a deal will be reached by the deadline. what will it mean for american people? eric? >> eric: well, i'm on the record saying we should name it the obama cliff and swan dive off of it. the only way the democrats will cut spending, because they're forceed in to it. if nothing happens, and the deal is not truck, people paycheck get smaller because the payroll taxes expire. people will have to pay in their taxes to a different way. the alternative minimum tax won't be patched and we'll have to be addressed as well. taxes will go up. spending cuts over time will happen as well. i think the stock market will be hit hard. i have the most to lose than anyone i know but the only way to fix the economy. >> eric: president obama wants tax cuts to expire for everyone except those making under $250,000 a year. john boehner plan "b" making $1 million. this looked like president obama coming back with the same deal at 250. they are miles apart. >> kimberly: you were able to speak to people on the hill. what was your react
to come to agreement on the fiscal cliff but neither side is optimistic that a deal will be reached by the deadline. what will it mean for american people? eric? >> eric: well, i'm on the record saying we should name it the obama cliff and swan dive off of it. the only way the democrats will cut spending, because they're forceed in to it. if nothing happens, and the deal is not truck, people paycheck get smaller because the payroll taxes expire. people will have to pay in their taxes to a...
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Dec 24, 2012
12/12
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was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his share of heat for washington this function to may point republicans are hammering. >
was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxes and draconian spending cuts resting squarely on the president. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more...
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in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to call it. with this congress, that was obviously a little too much to hope for at this time. maybe we can do it in stages. we're going to solve this problem instead in several steps . gerri: he could have been a little more conciliatory. >> i guess what i would say is, i would agree with him. i wish we did have a grand bargain. even brad he just will the when the democrats said we needed a grand bargain. certainly paul ryan and i don't know if you remember, he voted against it. plenty of blame to go around. add up think it makes sense to go after just the president. i think this is a failure of our lea
in order to avert the fiscal cliff and particularly sequestration an in august they pass a tax bill. the senate on bu the bills, nothing. the same said he could not give us a subject. gerri: what to bring this up. the president at a press conference really sort of insulting republicans, hoping to come to agreement. listen to the president. >> my preference woul have been to solve all these problems in the context of a larger agreement, a bgger deal, a grand bargain, whenever you want to...